- Dogecoin’s wild bull run continues with DOGE as the Twitter logo.
- Giant whale sells $109 million DOGE after Musk’s stunt.
- DOGE price faces market correction after a symmetrical triangle.
The last few days put the top dog memecoin Dogecoin (DOGE) back in the limelight. Firstly, the major fast food chain Burger King proclaimed that “we need DOGE” on Twitter, while Elon Musk’s stunt that followed catapulted the funny dog-themed currency by 30%. The leading memecoin is still trading in the recently formed symmetrical triangle.
A New Dog in Town: David Dogestein
Emerging crypto media personality David Gokhshtein announced today that he would change his name to reflect his interests better. “Going to change my name to David Dogestein just to get on y’all nerves,” uttered one of the most loyal supporters of dog-themed memecoins.
Shortly after this message, the crypto entrepreneur and owner of Gokhshtein Media was met with Double D jokes by the crypto community and alternative suggestions for his new name. Crypto enthusiast Prince Of Coins suggested the name be Dogeid Dogestein, while others insisted on David Memeshtein and David Shibashtein.
Massive Whale Moves $109 in DOGE
According to the on-chain data tool LookOnChain, the 5th largest Dogecoin (DOGE) whale decided to sell his tokens at the tip of the Musk-infused bull run for DOGE. The move was made in two transactions – the first transfer batch of 650 million sold for $61.3 million, while the second transaction scooped up another $48.2 million.
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Following the move, Dogecoin faced rejection at the $0.10 resistance level. At press time, the eightt-ranked $DOGE is changing hands at $0.096253, according to CoinGecko. With a 2.5% downtrend in the last 24 hours, the daily charts indicate a healthy correction but show no sign of DOGE breaking the ascending triangle’s upper trend line.
On The Flipside
- Currently, the crypto data analytics tool IntoTheBlock shows a 3:1 bearish vs. bullish on-chain signal ratio.
- DOGE has plunged in large transactions and slightly dropped in Net Network Growth and Concentration.
Why You Should Care
Dogecoin is soaring in social mentions, especially on Twitter. Plans to integrate the PoW blockchain into Twitter 2.0 seem likely, as Elon Musk proved with his continuous support for dog-themed memecoins.
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